If my ex-boyfriend and I are separating and selling our home, do we entitled to spilt the profits?

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If my ex-boyfriend and I are separating and selling our home, do we entitled to spilt the profits?

We have lived in it for 4 years. He put down the downpayment of 35K; we are both on the deed although I am not on the mortgage. We have been together for years and have supported each other financially for about 5-6 of those years. He believes that he is going to take the 35k off the profit and then we can split the rest. Is that true or am I entitled to 50% of the entire profit of the home?

Asked on October 16, 2011 under Real Estate Law, Massachusetts

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

If you and your former boyfriend are selling your home and you did not contribute any portion of the home's down payment, but your are on the home's title and you contributed to the home's upkeep during your ownership, the way to split the net profits from the sale is as follows:

1. from the amount that you the sellers receive from escrow after the sale, your former boyfriend gets back the $35,000 he put down on the home as a return of his capital investment.

2. once this $35,000 is returned to him, the balance of the amount left is split evenly between you two since you each own a fifty percent ownership in the home.

You might wish to consult with a real estate attorney about the division of the profits to be on the safe side.

Good luck.


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